SoftBank's Vision Fund logs $4 billion gain, its biggest in nearly 3 years, as tech valuations recover

SoftBank reported its first quarterly profit in four quarters, exceeding analyst estimates. The gain was driven by notable gains at its flagship tech investment arm, the Vision Fund. SoftBank’s net income of 950 billion Japanese yen in the December quarter surpassed expectations. The Vision Fund recorded a gain of 600.7 billion Japanese yen, continuing its recovery from previous losses. SoftBank’s shares rose by 11% ahead of the earnings report. The company also mentioned rising valuations from major firms in its investment portfolio. In 2022, SoftBank shifted to a more cautious approach before expressing excitement about the potential of artificial intelligence technology.